Next Generation Master Data Management
Master data management (MDM) is one of the most widely adopted data management disciplines of recent years. That’s because the consensus-driven definitions of business entities and the consistent application of them across an enterprise are critical success factors for important cross-functional business activities. Due to these compelling business reasons, many organizations have deployed their first or second generation of MDM solutions. The current challenge is to move on to the next generation.
For example, some MDM solutions focus on the customer data domain, and they need to move on to other domains, like products, financials, partners, employees, and locations. MDM for a single application (typically ERP or BI) is a safe and effective start, but the point of MDM is to share common definitions and reference data across multiple, diverse applications. Most MDM hubs support basic functions for the offline aggregation and standardization of reference data, whereas they should also support advanced functions for identity resolution, two-way data sync, real-time operation, and approval workflows for newly created master data. In parallel to these generational shifts in users’ practices, vendor products are evolving to support advanced MDM functions, multi-domain MDM applications, and collaborative governance environments.
Note that this Webinar is based on a new 2012 TDWI Best Practices Report of the same title. That 40-page research publication is based on an Internet survey, detailed user interviews, discussions with experts in the field, and briefings with leading software vendors. This Webinar presents many of the findings of that report..
In this Webinar, you will learn:
- The current state of MDM, plus survey-based predictions of the hottest growth areas for MDM functionality over the next three years
- Explanations of MDM generations and other maturation cycles, plus their critical success factors
- How to plan a future generation for your MDM program and implementation, based on business requirements and technical resources
- Tips for successfully modernizing and expanding any MDM practice